UK Currency Crisis: Toward Emerging Market Status

cc Flickr judy dean, modified,

Back in August, Saxo Bank’s Christopher Dembik noted that the United Kingdom was “more and more looking like an emerging market economy.” His logic was simple: in terms of fundamentals, the UK outlook displays the kind of economic vulnerability typical of the developing world, and the only thing insulating the country from a currency-crisis-IMF-adjustment loop was the ongoing willingness of market players to hold onto sterling holdings, likely on the basis of a lingering perception of UK economic resilience.


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